What Time Does the IRS Consider to Be Midnight?

efile tax extensionEven though the actual tax extension form for individuals or businesses are a lot simpler than your average tax form,  taxpayers still have valid questions about how to complete it. This post continues a Tax Extension FAQ series that covers the most common tax extension-related questions and their answers.

Here’s a very timely question:
It’s literally the last minute and I need to e-file my tax extension. What time does the IRS consider to be midnight?

Answer:
I know what you’re thinking. Midnight is midnight. Stop wasting my time, I need to file my tax extension!

The truth is that this is an extremely popular, and legitimate question – especially on deadline days like today (the April 15 tax deadline).

Here’s the deal: when you e-file a tax extension through an authorized e-file provider, that provider will time stamp your request when they send it to the IRS. So, the location of your provider is what determines midnight.

Example: let’s say you live in Seattle and at 9:30 PM  local time on April 15 you choose to use a provider located on the eastern time zone. Your extension request will be filed at 12:30 AM on April 16 – after the deadline.

Another example: lets’ say you live in Boston. It’s 2:30 AM on April 16 and you are finally sitting down to file an extension. If you file with a provider in the Pacific Time Zone, it will be stamped 11:30 PM April 15. Your extension will be filed before the deadline!

This is one of the main reasons I always recommend FileLater. They are located in San Diego – that’s in the Pacific Time Zone.  So all of you procrastinators on the East Coast can use FileLater for 3 extra hours!

If you have any questions about filing a tax extension, please let me know in the comment section below. I’ll do my best to cover it in a future blog post.

Reason #100 to File a Tax Extension: You Can’t Start and Finish Your Taxes in a Single Day

tax extensionThis post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.

Here’s reason #100: you can’t start and finish your taxes in a single day.

So, here we are. At the end of our list! 100 reasons have come and gone already.

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Reason #99 to File a Tax Extension: You’re Not Alone – More Than 10 Million People File for an Extension Each Year

This post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.

Here’s reason #99: you’re not alone – more than 10 million people file for an extension each year.

Yep, you read that right.

According to the IRS, more than 10 million of us procrastinate every year and file a tax extension. So don’t let embarrassment be an excuse. Go ahead and file and get an extra 6 months to file your taxes!

Whether you are new to filing a tax extension or you are one of the 15 million individuals and businesses that file one every year, there’s one very important thing to remember: income tax extensions do not give you more time to pay what you owe the IRS for income taxes. You are still responsible for paying what you owe by midnight on April 15 (or March 15 for the corporate taxes). An extension gives you more time to file the necessary tax forms you’re supposed to file. Failing to make your payment on time could make you subject to tax extension penalties and interest.

If you have any thoughts, comments, or questions about tax extensions let me know in the comment section below.

Reason #98 to File a Tax Extension: Procrastination is Your Middle Name

This post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.

Here’s reason #98: procrastination is your middle name.

If you have waited this long to file your taxes, chances are you are a procrastinator. It’s okay, be proud! You are one of the 15 million individuals and businesses that procrastinated every year by filing a tax extension.

Remember, being a proud member of Procrastinator nation is a legit reason for filing an extension. You know why? Because the IRS doesn’t care! Every extension is automatic – no reason required.

Whether you are new to filing a tax extension or  you file one every year, there’s one very important thing to remember: income tax extensions do not give you more time to pay what you owe the IRS for income taxes. You are still responsible for paying what you owe by midnight on April 15 (or March 15 for the corporate taxes). An extension gives you more time to file the necessary tax forms you’re supposed to file. Failing to make your payment on time could make you subject to tax extension penalties and interest.

If you have any thoughts, comments, or questions about tax extensions let me know in the comment section below.

Flood Victims Will Have to File a Tax Extension on Paper

flood victims tax extensionThe IRS said in a statement today that flood victims who were automatically given a tax extension until May 11 will have to file any additional requests for more time to file via paper. That means if you’re one of the flood victims and you want to e-File a tax extension (IRS Form 4868) to extend your tax deadline beyond May 11, you have until midnight April 15 to do so.

Here’s the full text of what the IRS said today:

The disaster relief provision extends the filing deadline to May 11, 2010 for many federal tax returns.  However, we are unable to extend the e-file deadline for the Form 4868 for Tax Year 2009 beyond April 15, 2010.  Affected taxpayers who are unable to e-file Form 4868 by April 15, 2010 must file their extensions on paper.

This does not mean flood victims can’t get more time beyond May 11. It just means they can’t use the convenience of e-File to extend. All additional tax extension requests must be made the old fashioned way – with paper and pencil.

Filed under: Tax Extension News

Reason #97 to File a Tax Extension: The IRS Deserves to Wait!

This post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.

Here’s reason #97: the IRS deserves to wait as long as possible for putting you through this process every year!

I talk to a lot of people this time of year that are extremely frustrated about their tax filing situation. Most are mad because it’s close to the deadline and they haven’t done anything to file their taxes yet. And who do they blame? The IRS of course.

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Reason #96 to File a Tax Extension: It’s Way Too Nice Outside

online extensionThis post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.

Here’s reason #96: it’s way too nice outside.

Mother Nature has been in a weird mood so far this year. It snowed like crazy on the East Coast. Then it rained like it never has before in the Northeast. Not to mention the devastating series of earthquakes all over the world. It’s enough to make you wonder what the heck is going on?

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Reason #95 to File a Tax Extension: It’s Your Birthday!

efile form 4868This post continues Tax Extension Center’s daily series of The Top 100 Reasons to File a Tax Extension. In this series of posts, we’re doing our part to educate taxpayers how filing a tax extension can be a valuable tax season option for you or your business because it saves time, stress, and even money.

Here’s reason #95: your birthday is in April – you refuse to celebrate and do your taxes in the same month.

How cruel would it be if I said this to you, “Happy Birthday! Have you filed your taxes yet?”

You probably wouldn’t like that. And I wouldn’t blame you. It’s rude to mix something so fun like a birthday with something so boring like taxes.

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